Discounts for New Vehicles Linked to Scrapping Old Ones: Nitin Gadkari

Union Road Transport & Highways Minister Nitin Gadkari has announced that several vehicle manufacturers will offer discounts on new commercial and passenger vehicles in exchange for scrapping older models with a valid Certificate of Deposit. This initiative aims to enhance the Circular Economy by promoting the adoption of cleaner, safer, and more efficient vehicles. The move is expected to contribute significantly to reducing pollution and advancing sustainable transportation practices.

According to reports, buyers who choose to scrap their old vehicles and purchase new ones may receive discounts ranging from 1.5% to 3.5%. This policy is seen as a step to invigorate the scrapping program, which had previously been criticized for its limited impact. SIAM President Vinod Aggarwal had earlier emphasized the need for more robust incentives to encourage vehicle scrapping.

In response to the new policy, Gadkari expressed satisfaction with the manufacturers’ willingness to participate, noting that this development aligns with the government’s goals of improving vehicle efficiency and reducing emissions. The initiative is part of broader efforts to address environmental concerns and promote a greener future for India’s transportation sector.

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